Dumont Nickel options eight Ontario claims
Dumont Nickel Inc DNI
Shares issued 21,306,129 2000-05-02 close $0.35
Wednesday May 3 2000
The Canadian Venture Exchange has accepted for filing documentation of an option agreement dated March 5, 2000, between the company and Henry Hutteri and Edward Korba. The company has been granted an option to acquire up to a 100-per-cent interest in eight claims located in the Chanabel township and one claim in the Lendrum township, located north of the town of Wawa, Ont.
In order to earn a 100-per-cent interest in the property, the company must make cash payments totalling $45,000 (over a two-year period) and issue to the optionors 200,000 common shares (an initial 100,000 shares, the remaining tranches over a two-year period).
The optionors will retain a 3-per-cent net smelter return, the company has the option to purchase 1.5 per cent of the nsr within 10 years of the agreement for $1-million (subject to exchange review).
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